Telecom Book

Franchising is a way for firms to increase their turnover without increasing their assets. One of the best known franchises is the McDonald’s chain of hamburger restaurants. Approximately  80% of McDonald’s restaurant businesses around the world are owned and operated by franchisees. However, almost every type of business has been franchised at some time or other, from Big Apple Bagels to DreamMaker Baths & Kitchens. Franchising involves two parties, the franchiser and the franchisee.

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A company’s culture is the set of priorities that it gives to different things. Sometimes these priorities are made explicit: in a company’s formal mission statement, for example, or in the structure of the organisation and the power given to different departments and functions. Sometimes they are implicit: what the Financial Times once called “the large number of unspoken assumptions and beliefs which managers in the organisation share about ‘the way we do things around here’”.

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